Despite their "war of words" last week, prospective
Nuggets, Avalanche and Pepsi Center Owner Donald Sturm and
Denver officials continued "to exchange proposals for
resolving the dispute that has held up" his purchase of the
sports assets, according to Leib & Greene of the DENVER
POST. One Sturm negotiator said the only issue that still
must be decided between the city and Sturm is "how to define
`objective criteria' for determining the financial fitness
of any future buyer of the teams." NHL VP/Media Relations
Frank Brown said that the negotiations are "between the city
and Mr. Sturm" and the league sees "no need at this moment
for us to insert ourselves." NBA Marketing Communications
Assistant Steve Alic also said that the NBA "does not plan
to intervene" in the issue (DENVER POST, 11/20). One source
close to Sturm: "He's frustrated at the way this is turning
out. It's become much more public, with much more
aggravation, than he expected" (DENVER POST, 11/21).
DRIVING A HARD BARGAIN: In Denver, Lewis & Flynn wrote
that Sturm's "hard-line posture wasn't evident until after"
Ascent announced plans to be acquired by Liberty Media Group
in a deal worth between $500M-575M. CO-based Janco Partners
analyst Ted Henderson: "Liberty does not have any interest
in Ascent with the sports teams intact. If the sports teams
are still in place, it will serve to delay the Liberty
deal." As a result, Sturm has "enormous leverage" in
negotiations for the teams. One thing the city is worried
about is that the NBA and NHL "refuse to state that they
will not approve any relocation" of the Nuggets or Avalanche
to other cities while the 25-year guarantee is still in
effect. If the leagues made any restrictions, "other cities
might seek such safeguards against the intercity bidding
wars that often develop for pro sports teams" and it would
"diminish the value of sports franchises by eliminating
relocations as an option" (ROCKY MOUNTAIN NEWS, 11/21).
